How To Save Money When Buying A House in Massachusetts or Connecticut

It is no secret that buying a house in Massachusetts or Connecticut can be a large expense. Often times buyers will want to cut costs in any way they can. However, you don’t want to skimp on things that are important! In our latest post, we will discuss several ways to save money when buying a house in Massachusetts or Connecticut!

Go Directly To The Source

Finding the deals yourself can be done, but it will take some work. When you buy without an agent you will want to be fully educated on the local market and real estate trends in your area. The research can seem daunting when having to pour over property records to find the diamonds in the rough, however, the benefits can be worth it.

You will need to have a good approach when approaching a homeowner, especially one who does not currently have his or her house for sale. Always be courteous and respectful of their privacy. If a homeowner isn’t interested in selling, move on to a different house.

Work With A Pro

A professional homebuyer, such as Mass Property Buyers will have the off-market deals you may have only heard about in the past. A professional home buyer works with sellers directly, saving money on commissions, repairs, and providing many other benefits to a seller. In return, when the property is sold, we are able to offer amazing deals to buyers! By eliminating agent fees, commissions, lender expenses, appraisal costs and more, we are able to acquire properties at excellent prices, passing the deals on to you!

Have Cash or A Good Sized Downpayment

A conventional mortgage loan requires, a sometimes daunting, 20% down. However, it will end up saving you money in the long run. An FHA loan is much easier to get with only a minimum 3.5% down, however, you will have to pay mortgage insurance premiums to protect the FHA should you default on the loan. Putting more money down will also save you a bundle in interest costs overall. The less you have to finance the better, so plan ahead and try to put down a good chunk of cash on the house you end up buying in Massachusetts or Connecticut.

Don’t Be Afraid To Make A Few Repairs On Your Own

Many times, you can find a deal on a house that is plain old ugly. It might need new carpeting, wallpaper removal or some fresh landscaping. Sometimes all of the above. Simple fixes such as this can dramatically change the look and feel of a home. The repairs you make should be primarily cosmetic. If a house has deeper issues, you are likely to see a snowball effect of one repair after another. Fixer-upper properties are usually sold at a discount. You could potentially buy a house for $150,000, spend $20,000 on repairs and find yourself the owner of a house worth $200,000. Before buying any fixer-upper, make sure you know what you are getting into and are able to make the repairs at the prices you estimate! For the best fixer-upper properties, give us a call! 413-455-0008

Don’t Buy With Emotion

We are all guilty of it. The dreaded feeling of buyers remorse after making a big purchase. Now imagine if that purchase was one of the largest purchases of your life. Don’t find yourself blinded by a beautiful house that is way out of your budget. Or maybe a property that needs “a little work” but that turns into a much larger project. Make a list of the absolute “must-haves” and don’t sway from them. Buying a house is an incredibly important decision. Take steps to ensure you are purchasing the house that is right for you.

Are you thinking about buying a house in Massachusetts or Connecticut? We can help! Send us a message or give us a call today! 413-455-0008

Testimonials

Mass Property Buyers

We were overwhelmed. “We needed to relocate my father to an assisted living facility. We were in the process of cleaning up the house and organizing when we realized it was just too much. We were overwhelmed. I didn’t want to list the house with a realtor in its current condition and with my dad still in the house we didn’t want a bunch of people walking through the house for showings. I reached out to many online companies. Most of them didn’t even respond. Finally we found Mass Property Buyers. They were able to look at our dad’s house later that day and had a cash offer to us the next day. The offer was fair and they were able to set the closing based on our timeline. They explained everything, the process from offer to closing was wonderful, we were able to close near my work so I didn’t have to miss work.”

Yvonne S - Jobs Hill Rd, Ellington CT

Mass Property Buyers

Helped Our Family. “The Mass Property Buyers team made the process of selling my mother’s house easy. My sister and I contacted them after our mother passed. The house needed repairs and was filled with years of junk. They gave us a reasonable price and took the house as is. We took whatever items we wanted and left the rest of the junk behind. They were fair and honest. I would recommend Mass Property Buyers to anyone who is looking to sell an unwanted house.

Julisa - Suffield CT

Mass Property Buyers

We sold our home fast. “Our experience with Mass Property Buyers was excellent, fast and professional. We had a time constraint in regards to closing since we were moving out of state, and we were able to close in 6 days, which we think is exceptional. We would definitely recommend them to anyone selling their home.”

Patrice P - Lakeshore Dr, Monson MA

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We are a real estate solutions and investment firm that specializes in helping homeowners get rid of burdensome houses fast. We are investors and problem solvers who can buy your house fast with a fair all cash offer.